During spring break, students have an elasticity of demand for a trip to Florida of -3. How
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Question:
During spring break, students have an elasticity of demand for a trip to Florida of -3. How much should an airline charge students for a ticket if the price it charges the general public is $360? Assume the general public has a price-elasticity of demand of -2.
A. $200.
B. $350.
C. $460.
D. $270.
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